Rostelecom’s Board of Directors approves two bond programmes

Moscow, Russia – October 30, 2015 – Rostelecom PJSC (“the Company”) (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, announces that its Board of Directors has approved two bond programmes.

Placing separate bond issues as part of Rostelecom’s approved bond programmes affords the Company maximum flexibility in terms of attracting financing at optimal terms as far as the volume, term and costs of borrowing are concerned. This is particularly important in the current environment, with the parameters of each issue being bound to the changing market conditions.

The terms of the approved bond programmes are as follows:

• The first bond programme amounts to RUB 100 billion with each separate issue having a maximum term of up to 30 years from the moment they are placed, and each containing embedded call and put options. After being placed, the individual issues will be included in the Lombard List of the Bank of Russia in accordance with standard procedures;
• An additional bond programme amounting to RUB 200 billion with each separate issue having a maximum term of up to 10 years from the moment of issue. Each issue will have a simple structure free of call and put options and will correspond to the criteria for being included in the Lombard List of the Bank of Russia, even before being placed.

These programmes have an unlimited time period. Each bond issue is expected to be used mainly for the refinancing of the Company’s debt obligations.